Amundi Pioneer Asset Management Inc. cut its stake in Torchmark Co. (NYSE:TMK) by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,116 shares of the insurance provider’s stock after selling 8,046 shares during the period. Amundi Pioneer Asset Management Inc. owned about 0.07% of Torchmark worth $6,121,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc grew its holdings in shares of Torchmark by 1.7% in the third quarter. Vanguard Group Inc now owns 12,664,337 shares of the insurance provider’s stock worth $1,097,870,000 after purchasing an additional 210,422 shares during the last quarter. FMR LLC grew its holdings in shares of Torchmark by 5.8% in the third quarter. FMR LLC now owns 2,559,426 shares of the insurance provider’s stock worth $221,877,000 after purchasing an additional 139,310 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Torchmark by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 1,457,051 shares of the insurance provider’s stock worth $108,420,000 after purchasing an additional 89,972 shares during the last quarter. Northern Trust Corp lifted its stake in Torchmark by 1.2% in the fourth quarter. Northern Trust Corp now owns 1,254,449 shares of the insurance provider’s stock worth $93,493,000 after acquiring an additional 15,138 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in Torchmark by 12.5% in the fourth quarter. Acadian Asset Management LLC now owns 1,147,662 shares of the insurance provider’s stock worth $85,534,000 after acquiring an additional 127,369 shares during the period. Hedge funds and other institutional investors own 76.71% of the company’s stock.
In other news, Chairman Gary L. Coleman sold 13,000 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $83.10, for a total transaction of $1,080,300.00. Following the transaction, the chairman now owns 662,547 shares in the company, valued at $55,057,655.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert Brian Mitchell sold 12,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $81.67, for a total transaction of $980,040.00. Following the transaction, the executive vice president now owns 51,808 shares in the company, valued at approximately $4,231,159.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 166,785 shares of company stock valued at $14,109,803. Insiders own 3.64% of the company’s stock.
Torchmark (NYSE:TMK) last released its quarterly earnings results on Wednesday, April 17th. The insurance provider reported $1.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.05. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Torchmark had a net margin of 16.37% and a return on equity of 13.06%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.47 earnings per share. As a group, equities analysts predict that Torchmark Co. will post 6.7 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 0.80%. This is a positive change from Torchmark’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, April 4th. Torchmark’s dividend payout ratio is presently 11.26%.
A number of analysts recently weighed in on TMK shares. Zacks Investment Research lowered shares of Torchmark from a “buy” rating to a “hold” rating in a research note on Monday, December 31st. JPMorgan Chase & Co. raised shares of Torchmark from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 2nd. Finally, ValuEngine raised shares of Torchmark from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $86.00.
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Torchmark Corporation, through its subsidiaries, provides various life and health insurance products, and annuities in the United States, Canada, and New Zealand. It operates through four segments: Life Insurance, Health Insurance, Annuity, and Investment. The company offers traditional and interest-sensitive whole life insurance, as well as term life insurance.
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